MUSCAT: Forbes Middle East has ranked Oman’s Yiti tourism project among the largest tourism projects under development in the Middle East region.

In a new report published on Forbes Middle East website, it said that the project extends over an area of more than 11 kilometres in Muscat. It is characterised by its strategic location on the Arabian Sea, noting that last January, Omran Group and Diamond Real Estate Development Company signed an agreement to implement the first phase of the project, with an investment value. It amounts to 1 billion USD, and the Sustainable Development and Investment Company will undertake the task of implementing this stage.

The first phase of the project, which will be implemented on an area of 900,000 square meters, is expected to contribute to the establishment of a sustainable tourism project, which includes a set of main facilities, such as parks, public facilities, residential units, shops and educational facilities, as well as hospitality facilities, restaurants and cafes. and an equestrian centre, and the first phase is expected to provide 900 direct and indirect jobs.

The report also pointed out that by 2028, the tourism sector is expected to contribute to the gross domestic product of the countries of the Middle East by 486.1 billion USD, according to the forecasts by Statista, and government spending on tourism in the GDP of the countries of the region will reach about 17.7 billion USD at the same time.

The most important tourism projects under development in the Middle East also included the Neom City project in Saudi Arabia, the Sulaibikhat Coast project in Kuwait, the Grand Egyptian Museum project, the Hatta development plan in the UAE, and the Arabian Gulf Beach project in Qatar.